Vasil Kisil & Partners advise Arcona Property Fund on acquisition of assets in central Kyiv

Arcona Property Fund, a real estate fund investing across Central and Eastern Europe, has successfully completed the acquisition of a residential development site in the centre of Kyiv. The seller is Cypriot AIM London-listed Secure Property Investment and Development PLC (SPDI).

The acquired asset is corporate rights of two Ukrainian companies holding four land plots with a total area of 0.54 hectares located on Kyianivskiy Lane in the Shevchenkivskyi district, a 500 meters from Lvivska Square, making it ideally suited for a high-end residential development. 

The deal was concluded for a total consideration of USD 2 million, which included USD 1.2 million in cash and USD 800,000 in the form of the Fund’s shares. 

Vasil Kisil &Partners acted as the sole Ukrainian legal advisor to Arcona Property Fund, providing comprehensive legal support throughout the transaction. The advisory team, comprising Alexander Borodkin, partner, Oleksandr Misiats, associate, and Vladyslava Burbeza, associate, advised on corporate, land, tax, financial, and other transaction matters. Vasil Kisil & Partners’ lawyers have structured the deal and drafted and negotiated a full package of transaction documents.

This acquisition completes SPDI’s purchase programme, originally agreed in 2020, comprising six assets across Bulgaria, Romania, and Ukraine. The completion of the transaction marks an important milestone for Arcona Property Fund as it continues to expand its investment portfolio across Central and Eastern Europe.